This amount is in line with the average investment required for other automotive franchises. Take 5 Oil Change requires an initial franchise fee of $35,000 and an average total investment of $1,021,000 to open a new franchise. How much does a Take 5 Oil Change franchise cost?
No financing: The franchisor does not offer its franchisees direct or indirect financing options.Not a part-time business: The business must be open full-time for at least 40 hours a week.Franchisees must be actively involved in the decision-making and day-to-day operations of their businesses. No absentee ownership: The Take 5 Oil Change franchise does not present a passive investment opportunity.Franchisees must have a retail facility, office space or warehouse to operate from. Not a home-based opportunity: The franchise cannot be operated from home or a mobile unit.These include national media, print advertising, regional advertising, email marketing, social media and targeted local market campaigns. Marketing and publicity: Take 5 Oil Change has proven marketing and advertising techniques to help franchisees create awareness about their centers and foster growth.
#Take five oil time license#
Under the agreement, it does not license any other franchise or operate competing channels in the protected area. Exclusive territory protection: The franchisor allows its franchisees to operate in a protected area.This gives franchisees more real estate options to choose from and allows them to establish their shops from scratch or convert an existing one, reducing their development costs. Flexible franchise designs: The brand utilizes a simple franchise design of a 1/3-acre pad and 1,500-square-foot building.Also, it helps them with lease negotiations and establishing their franchise at a minimal cost. Real estate and site selection: The franchisor provides its franchisees with a data-driven real estate team to help them find the best location for their businesses.In addition, it offers them two weeks of supervision for their grand opening.
It is part of the Driven Brands family, headquartered in Charlotte, North Carolina, alongside other brands such as Maaco, Carstar and Meineke. Take 5 Oil Change was established in 1984 in Metairie, Los Angeles, by Monty Montgomery. Also, it offers vehicle inspections, coolant services and seasonal tire changes. Take 5 Oil Change is an American quick lube service franchise featuring a unique drive-thru concept that allows customers to stay in their cars. Let’s find out! Key stats Franchise feeĮxcellent 4.8/5 based on 70 reviews What is Take 5 Oil Change? In this article we are looking at the information disclosed in the Franchise Disclosure to find out how profitable Take 5 Oil Change franchises really are. In other words: how much does the franchise really cost? And, more importantly, are the profits worth the initial investment upfront? Indeed, in a little less than 5 years Take 5 Oil Change has added 173 franchises to its network.! Whilst it’s always good to choose a franchise with a strong expansion plan and a large footprint, as the franchisee you should also pay attention to the finances. It’s also one of the fastest-growing franchise in the industry since it also started franchising in 2016. With more than 760 shops globally, Take 5 Oil Change is one the leader in the oil change industry.
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